As the week comes to a close, let’s look back at the top stories that emerged over the past few days. From Trump’s contemplation of the Australian retirement system to Elon Musk’s predictions about AI-driven unemployment, here’s a recap of the week’s most significant stories.
President Donald Trump Considers Adopting Australian Retirement Savings System
The system, known as superannuation, has a massive A$4.1 trillion ($2.70 trillion) retirement savings pool in Australia. Trump is looking at the plan for working people, not necessarily for children.
Trump’s administration is actively exploring the possibility of implementing a retirement savings system similar to Australia's in the United States.
Read the full article here.
Trump Considers Appointing Treasury Secretary Bessent As Chief Economic Adviser
President Donald Trump is reportedly contemplating appointing U.S. Treasury Secretary Scott Bessent as his chief economic adviser if incumbent Kevin Hassett is chosen as the next Chairman of the Federal Reserve.
Read the full article here.
See Also: Everyone's Bullish, Cash Is Gone—What If The Fed Doesn't Cut?
Elon Musk Predicts AI, Robotics Could Make Work Optional Within 20 Years
Elon Musk predicts that people won’t have to work at all in the next 20 years as AI and robotics advance. He believes that the pace of technological acceleration will allow most people to stop working entirely.
Read the full article here.
Shkreli Highlights US Stocks Return 8.7% Annually
Shkreli highlighted the annual returns of global equity markets, pointing out that from 1990 to today, a span of more than 35 years, U.S. stocks have delivered 8.7% annually. Over that same stretch, he noted, Japanese equities returned just 0.7% yearly, while France generated only 0.6% annually over the past 25 years.
Read the full article here.
Trump Administration To Suspend Aid For Democrat-Run States That Withhold SNAP Beneficiary Data
The Trump administration is set to suspend aid for states run by Democrats that do not disclose identifying information about Supplemental Nutrition Assistance Program (SNAP) beneficiaries, including their immigration status.
Agriculture Secretary Brooke Rollins announced that the administration will cease federal funding to states that fail to provide the requested data. The decision affects states such as California, New York, and Minnesota.
Read the full article here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
